MoneyMax takes pawnbroking online

• Valuation function allows online appraisal of valuables
• Online and app function gives company edge over competitors

THE pawnbroking business in Singapore has now gone online with the launch of MoneyMax Online, the island republic's first pawnbroking chain to offer an online platform to shop, sell and appraise their valuables.

MoneyMax Financial Services Ltd believes that its online presence gives the company an edge over its traditional brick-and-mortar competitors.

The key defining feature of MoneyMax Online is its pioneering valuation function which provides an intuitive user experience for appraising valuables, said the company in a statement.

Users just need to take a photo of the item and upload it via the MoneyMax Online website or the MoneyMax Online mobile app.

The user will then be informed within one business day of the item’s indicative appraised value. The user can then decide whether to carry out the transaction at any of MoneyMax’s 38 outlets in Singapore.

Currently, MoneyMax Online is only available to users in Singapore. It may be extended to customers elsewhere in the future.

The MoneyMax Online app is only available on the Android platform. It should be available for iOS phones by the end of February.

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